The widely used blockchain explorer tool for the Avalanche network, SnowTrace, is set to shut down its website on November 30th. According to the announcement made on October 30th, users of SnowTrace need to back up their data, including private name tags and verification details, before the end of November. Although the team behind #Snowtrace has not disclosed the specific reasons behind the closure, there is speculation within the crypto community that the move could be related to the fees associated with Etherscan's EaaS (Etherscan as a Service) toolkit.Mikko Ohama, the co-founder of Trading Strategy, has suggested that the annual fees for EaaS could range between $1 million to $2 million – a significant expenditure for any service provider. This cost factor, if accurate, could potentially explain the financial pressures leading to the decision to discontinue SnowTrace.The SnowTrace team has clarified that the shutdown will only affect the Etherscan-supported explorer, with no further closures announced. This development has caused ripples in the Avalanche community, as users and developers rely on block explorers for transaction tracking, smart contract verification, and network analytics.The closure of SnowTrace highlights the broader implications of service costs in the blockchain infrastructure space and raises questions about the sustainability of third-party tools that are vital for the transparency and functionality of blockchain networks. As the deadline approaches, users are urged to save their necessary data to avoid loss of access to their transaction histories and other pertinent information.With the future of blockchain analytics tools in question, the Avalanche community is now looking towards alternative solutions that can ensure the ecosystem remains robust and accessible. The shutdown serves as a pivotal moment for the industry, prompting a discussion about decentralization, the cost of technological services, and the resilience of blockchain infrastructure.#avalanche $AVAX

Post By: CryptosHeadlines.com

Avalanche’s Snowtrace browser is set to cease its operations by November 30, sparking curiosity and anticipation among users for a potential improved replacement.On Monday, October 30, the Avalanche project gained attention as its price surged by over 2% during the time of reporting. However, in a recent announcement, Avalanche’s blockchain browser, Snowtrace, disclosed its plans to halt operations at 00:00 UTC on November 30. This development has created a sense of urgency among the platform’s users, who now have a limited timeframe to download their private name tags and contract verification data before the deactivation takes effect.
Avalanche’s Snowtrace Browser to Stop Working
The crypto community recently received surprising news of Snowtrace, the blockchain browser associated with Avalanche, planning to discontinue its services at the end of November. Snowtrace, known for being a C-Chain block explorer, is developed and run by the team behind Etherscan, a well-known name in the blockchain industry.
An official notice posted on Snowtrace’s platform states, “Snowtrace will be discontinued from 30th November UTC 00:00. Please download your private name tags and contract verification prior to the deactivation date.” This announcement has caused concerns among users who depend on Snowtrace for their blockchain-related activities.
The abrupt decision to deactivate Snowtrace has led to questions and speculation in the crypto community. Some users worry that Avalanche might be withdrawing its support for the platform, potentially causing its closure.
In response to the situation, Phillip Liu Jr., Head of Strategy and Operations at Ava Labs, the company behind Avalanche, seemed to confirm a transition to a new solution. His response has eased the concerns of some users, although others await further updates or clarity from the platform.
Preparation for Snowtrace Closure and Hope for an Enhanced Solution
As the November 30 deadline approaches swiftly, users who rely on Snowtrace for their blockchain-related needs should take prompt action. It’s crucial for users to download their private name tags and contract verification data before the deactivation date to prevent any disruptions or data loss.
Although the future of Avalanche’s blockchain browser is uncertain, there’s a sense that a new and improved solution may be in the works, offering a better user experience within the Avalanche ecosystem. While the crypto community eagerly awaits this transition, users are advised to get ready for Snowtrace’s closure and safeguard their essential data accordingly.
Following the announcement, Avalanche’s price increased by 2.63%, reaching $11.20, with its 24-hour trading volume rising by 12.12% to $164.63 million. Notably, the crypto’s price has surged by over 9% in the past seven days, indicating investor confidence in Avalanche’s future.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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